Business news

• PS5: Sony gives first look at PlayStation 5

  11-06-2020 23:14 via uk.finance.yahoo.com
  
  Sony has given its first look at the PlayStation 5.The company called the new console its "most striking design yet", and showed images of what appeared to be a tall, curvy tower.
  
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• U.S. is 'trouble maker' in China-Canada relationship, Chinese envoy to Canada says

  11-06-2020 22:49 via uk.finance.yahoo.com
  
  The United States is using the case of a senior Chinese telecoms executive who was arrested in Vancouver on a U.S. warrant 18 months ago to create friction between China and Canada, China's envoy to Canada said on Thursday."The U.S. has been taking advantage of Canada, and the U.S. is the trouble maker of China-Canada relations," the Chinese envoy to Ottawa, Cong Peiwu, told Reuters in a telephone interview.
  
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• Moderating Trump's tweets 'massively amplifies' him, says former Facebook executive

  11-06-2020 22:32 via uk.finance.yahoo.com
  
  Twitter’s decision to label Donald Trump’s tweets did more harm than good by spreading the US President’s inflammatory messages, a former Facebook executive has claimed. Lord Richard Allan, who left Facebook last year, said Mr Trump’s tweet that “when the looting starts, the shooting starts”, which Twitter put behind a warning two weeks ago for glorifying violence, had received “infinitely more traction” as a result. Mr Trump had tweeted the commen
  
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• UK in U-turn on full post-Brexit border controls

  11-06-2020 22:00
  Temporary light-touch customs regime planned with pressure from business not to compound Covid-19 chaos
  
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• France's 'Generation COVID' faces bleak future with jobs scarce

  11-06-2020 21:36 via uk.finance.yahoo.com
  
  In September, Eugenie Fillon should begin a two-year master's degree in luxury hotel management that combines academic studies with a salaried apprenticeship.Unemployment was falling before the crisis - even if it was still roughly double the rate in Britain and Germany - and long-term contracts were on the rise.
  
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• Coronavirus: UK sets guidelines for air travel

  11-06-2020 21:32 via bbc.co.uk
  
  The recommendations include that passengers should check in all luggage, and wear face coverings in airports.
  
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• Britain and EU seek to break Brexit deadlock

  11-06-2020 21:22
  Intensified rounds of talks to be agreed by Johnson and Von der Leyen to try and unlock deal
  
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• Amanda Staveley fell out with David Mellor over Barclays rescue

  11-06-2020 21:11 via uk.finance.yahoo.com
  
  Amanda Staveley fell out with David Mellor over Barclays rescue. Former cabinet minister sent financier furious email over delay in payment of £5m in fees
  
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• Wall Street sinks as 10-week boom comes crashing down on 'second wave' fears

  11-06-2020 20:55 via uk.finance.yahoo.com
  
  Rising fears of a second wave of the coronavirus pandemic triggered a major sell-off in financial markets on both sides of the Atlantic on Thursday as investors reassessed the prospects for the global economy. The 10-week spell of surging prices, fuelled by low interest rates and central bank quantitative easing, came to a crunching halt with the S&P; 500 diving more than 5pc and the Dow Jones sinking 6pc. The S&P; had surged by more than 40pc since late March, raising concerns that inve
  
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• Italy's Atlantia swings to Q1 net loss amid COVID-19, concession row

  11-06-2020 20:41 via uk.finance.yahoo.com
  
  Infrastructure group Atlantiaswung to a net loss in the first quarter as the impact of the coronavirus crisis compounded fallout from a prolonged political dispute over its motorway concession.Between January and March, traffic on Atlantia's motorway network in Italy fell 20.7% while passengers at its airports in Rome tumbled 33% as the lockdown imposed by the Italian government to contain COVID-19 took its toll.
  
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• Atlantia swings to first-quarter net loss amid virus, concession row

  11-06-2020 20:41 via uk.finance.yahoo.com
  
  Italian infrastructure group Atlantiaswung to a net loss in the first quarter as the impact of the coronavirus crisis compounded fallout from a prolonged political dispute over its motorway concession.Between January and March, traffic on Atlantia's motorway network in Italy fell 20.7% while passengers at its airports in Rome tumbled 33% as the lockdown imposed by the Italian government to contain COVID-19 took its toll.The group, controlled by the Benetton family, reported a 15% fall in revenue
  
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• Morrisons: shareholders revolt over executive pay

  11-06-2020 20:39 via uk.finance.yahoo.com
  
  Morrisons: shareholders revolt over executive pay. More than a third of investor votes go against supermarket’s pay policy
  
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• Bleak day for UK as Centrica, Johnson Matthey and Heathrow announce big job losses

  11-06-2020 20:34 via uk.finance.yahoo.com
  
  Bleak day for UK as Centrica, Johnson Matthey and Heathrow announce big job losses. British Gas to slash 5,000 jobs, Johnson Matthey, 2,500, as Heathrow Airport launches redundancy programme
  
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• Ministers braced for a wave of job cuts in the UK

  11-06-2020 20:27
  Centrica, Johnson Matthey and Nissan among the latest companies to announce lay-offs
  
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• A month into reopening, no clear turn for U.S. economy or pandemic

  11-06-2020 20:24 via uk.finance.yahoo.com
  
  A month into efforts to broadly reopen the U.S. economy there islittle clarity either on the pace and durability of the recovery, or on the ability to convincingly suppress the virus that has killed more than 112,000 Americans.Data on cellphone traffic, employee time management and weekly unemployment claims point to an ongoing and steady climb back - but one that shows stark divisions among states, and some evidence the spread of the novel coronavirus may be greater in places where economic act
  
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• Snapchat launches new tools in bid to become a 'superapp'

  11-06-2020 20:20 via uk.finance.yahoo.com
  
  Snapchat has launched a range of new tools on its platform in a bid to become a WeChat-like superapp. The latest updates have a focus on “uplifting the community” and improving mental health during the pandemic and Black Lives Matters protests around the world. “We know this is a difficult and uncertain time,” said Snapchat’s CEO, Evan Spiegel, during a speech at the company’s annual partner summit. “Close friendships are the first line of defense during
  
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• Yum sues Grubhub for allegedly violating delivery deal

  11-06-2020 20:18 via uk.finance.yahoo.com
  
  Yum invested about $200 million in GrubHub in 2018 and struck a partnership with the company to bolster food delivery from thousands of KFC and Taco Bell restaurants across the United States.According to Yum's lawsuit, Grubhub Chief Executive Officer Matt Maloney informed the company in an email that the agreement was of no "further force and effect" and would "no longer apply."Grubhub also informed hundreds of Yum's franchisees of a substantial increase in delivery fees, asking them not to worr
  
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• Taco Bell parent Yum sues Grubhub for allegedly violating delivery deal

  11-06-2020 20:18 via uk.finance.yahoo.com
  
  Taco Bell parent Yum Brands Incsued Grubhub Incon Thursday for allegedly violating a delivery contract, a day after Europe's Just Eat Takeaway.comagreed to buy the U.S. food delivery company for $7.3 billion.Yum invested about $200 million in Grubhub in 2018 and struck a partnership to deliver food from thousands of its KFC and Taco Bell restaurants across the United States.
  
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• Taco Bell parent Yum sues Grubhub for alleged violation of delivery deal

  11-06-2020 20:18 via uk.finance.yahoo.com
  
  Taco Bell parent Yum Brands Incsued Grubhub Incon Thursday for allegedly violating a delivery contract, a day after Europe's Just Eat Takeaway.comagreed to buy the U.S. food delivery company for $7.3 billion.Yum invested about $200 million in Grubhub in 2018 and struck a partnership to deliver food from thousands of its KFC and Taco Bell restaurants across the United States.
  
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• U.S. Fed's 'long road' lays bare challenge to new Bank of Canada governor

  11-06-2020 20:16 via uk.finance.yahoo.com
  
  New Bank of Canada Governor Tiff Macklem, already facing the double whammy of the coronavirus pandemic and slumping oil prices, must now also contend with the Federal Reserve forecast that the United States expects years of slow growth.Fed Chair Jerome Powell said on Wednesday the United States faced "a long road" to recovery and the Fed forecast interest rates languishing near zero through 2022.
  
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• It took two tortuous years for Unilever to untangle the mess

  11-06-2020 20:14 via uk.finance.yahoo.com
  
  It took two tortuous years for Unilever to untangle the mess. There was only ever one plausible domicile for the Anglo-Dutch conglomerate, and that’s London
  
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• Joe Biden accuses Facebook of helping Donald Trump spread 'wild claims'

  11-06-2020 20:13 via uk.finance.yahoo.com
  
  Joe Biden has launched an election offensive against Facebook, demanding that it take action to stop Donald Trump from spreading "paid misinformation". The Democratic candidate for president accused Facebook of "taking no meaningful action" to limit the "wild claims" of his opponent and asking it to fact-check all political adverts posted less than two weeks before polling day. It comes after Mr Biden's campaign reportedly lobbied the social media giant for months behind the scenes over its perm
  
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• Schools will not be open for frontline workers’ children over summer

  11-06-2020 20:04
  Government says parents ‘expect’ closure despite pressure to get children back in classrooms
  
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• Schools to close over summer for frontline UK workers’ children

  11-06-2020 20:04
  Calls for government funding for holiday schemes as pressure maintained to get pupils back in classrooms
  
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• Starmer: 2m rule is scientific decision

  11-06-2020 19:58 via uk.finance.yahoo.com
  Labour leader Sir Keir Starmer says he will back the reduction of social distancing measures from two meters to one meter providing it is a scientific decision supported by the government's scientific advisers. .
  
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• Snap launches new shows, games, developer tools in bid to grow audience

  11-06-2020 19:50 via uk.finance.yahoo.com
  
  During a webcast for Snap's Partner Summit, which gathers developers who use the Snapchat app, as well as its creators and marketers, Snap said it will add an "action bar" to make it easier to navigate the app.Snapchat, known for photo messages that disappear after being opened, has invested heavily in shows made to be watched on mobile, as well as in-app gaming.On Thursday, it announced 10 new original shows, including "Coach Kev" starring comedian Kevin Hart who will share "daily doses of posi
  
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• Amazon may face EU antitrust charges over merchant data in coming weeks - source

  11-06-2020 19:36 via uk.finance.yahoo.com
  
  Amazon may face EU antitrust charges in the coming weeks over its use of data from merchants with whom it competes on its platform, a person familiar with the matter said on Thursday, putting it at risk of a hefty fine.The European Commission has been investigating the U.S. online retailer's dual role as a marketplace for merchants and as a rival since July last year, triggered by complaints from traders about Amazon's practices.The probe also focuses on how Amazon uses competitively sensitive m
  
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• Italy's Moncler expands into perfumes as COVID crisis weighs

  11-06-2020 19:32 via uk.finance.yahoo.com
  
  Italy's Monclersaid on Thursday it had signed an agreement with France's Interparfumsto start selling perfumes, as it seeks to diversify its brand and lessen the deep impact of the coronvirus crisis on the luxury goods sector.The licence agreement will last until 2026, but can be extended for a further five years, the companies said in a joint statement.Moncler Chairman and Chief Executive Remo Ruffini said the launch of Moncler's first fragrances was "consistent with our selective brand extensi
  
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• Apple, YouTube unveil $100 million funds to support black causes amid U.S. protests

  11-06-2020 19:31 via uk.finance.yahoo.com
  
  The efforts join a wave of actions by big companies, including banks and retailers, aiming to show support for the black community as recent protests in the United States and elsewhere call attention to longstanding discrimination against African Americans.The protests followed the May 25 death of George Floyd, a black man, while detained by Minneapolis police.Apple Chief Executive Tim Cook in a video posted to Twitter said the iPhone maker seeks to increase minority representation among the fir
  
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• Apple will increase spending with black-owned suppliers as part of $100 million racial justice effort

  11-06-2020 19:31 via uk.finance.yahoo.com
  
  Cook made the remarks in a video posted to Twitter announcing a $100 million (79.35 million pounds) racial equity and justice initiative in the wake of the May 25 death of George Floyd in Minneapolis.Other moves will include programs to foster black application developers and new initiatives to increase diversity and inclusion within Apple, Cook said.
  
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• Nestle explores sale of Pure Life in overhaul of water business

  11-06-2020 19:25 via uk.finance.yahoo.com
  
  Nestleis exploring a potential sale of part of its North American water business, including the Pure Life brand, it said on Thursday, as the food giant shifts focus to better performing brands.The business under review also includes regional spring water brands like Poland Spring and generated sales of 3.4 billion Swiss francs ($3.61 billion) last year, accounting for almost half of total water revenue."We are withdrawing from a bulk business to focus on high-value (water) specialities," Nestle
  
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• Nestle explores sale of Pure Life as part of water business review

  11-06-2020 19:25 via uk.finance.yahoo.com
  
  Food giant Nestlesaid it is exploring a potential sale of part of its North American water business, including its well-known Pure Life brand, as it moves to focus on the better performing brands in its water division.Nestle's water business, which generated sales of 7.8 billion Swiss francs (£6.6 billion) and growth of just 0.2% last year, has been underperforming for years, leading the group to announce an overhaul of the division last year.In a statement on Thursday it said it was expec
  
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• India sets out proposals for tighter governance at banks

  11-06-2020 19:25 via uk.finance.yahoo.com
  
  The Reserve Bank of India's (RBI) proposal includes limiting the length of time a major shareholder can serve as CEO to 10 years; setting clear divisions of responsibilities between a bank's board and management; and improving the supervisory oversight of senior management.In a 74-page document drawn up for a public consultation on the plan, the RBI said the objective of tougher guidelines was to "align the current regulatory framework with global best practices while being mindful of the contex
  
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• Microsoft declines to sell facial recognition tech to police - Washington Post

  11-06-2020 19:23 via uk.finance.yahoo.com
  
  The news https://www.washingtonpost.com/technology/2020/06/11/microsoft-facial-recognition comes a day after Amazon.com Incsaid it was implementing a one-year moratorium on police use of its facial-recognition software, halting a business it long defended as many protested law enforcement brutality against people of color.The death of George Floyd, a black man who died in police custody last month, has fanned worries that facial recognition would be used unfairly against protesters."When even th
  
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• Microsoft declines to sell facial recognition tech to police

  11-06-2020 19:23 via uk.finance.yahoo.com
  
  "We do not sell our facial recognition technology to U.S. police departments today, and until there is a strong national law grounded in human rights, we will not sell this technology to police departments," the company said in a statement.The death of George Floyd, a black man who died in police custody last month, has fanned worries that facial recognition would be used unfairly against protesters.
  
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• Microsoft bans police face recognition sales as Big Tech reacts to protests

  11-06-2020 19:23 via uk.finance.yahoo.com
  
  The announcement came a day after rival Amazon.com Incdeclared it was pausing police use of its "Rekognition" service for a year, while International Business Machines Corpalso said this week it no longer is generally offering the software and that technology should not promote racial injustice.In a statement, Redmond, Wash.-based Microsoft said it has long worked on enacting principles and legislation for the software's use.
  
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• Microsoft bans face-recognition sales to police as Big Tech reacts to protests

  11-06-2020 19:23 via uk.finance.yahoo.com
  
  The announcement came shortly after rival Amazon.com Incdeclared it was pausing police use of its "Rekognition" service for a year and International Business Machines Corpsaid it no longer offers the software generally.In a statement, Microsoft said it has worked on enacting principles and legislation for the software's use."We do not sell our facial recognition technology to U.S. police departments today, and until there is a strong national law grounded in human rights, we will not sell this t
  
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• Crawley becomes Britain's 'furlough capital'

  11-06-2020 19:01 via uk.finance.yahoo.com
  
  Crawley in West Sussex - home of a virtually shuttered Gatwick airport - has won the dubious distinction of being the “furlough capital” of the UK, detailed new figures on the Government’s job retention scheme have shown. The breakdown of the unprecedented Covid-19 support for the UK’s workforce up to the end May shows a third of the almost 60,000 employees in the local authority being supported by the state - the highest share in the country. Gatwick employs some 2,800 w
  
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• Crawley the furlough capital of England, new figures reveal, with 20k paid by the state

  11-06-2020 18:54 via uk.finance.yahoo.com
  
  Crawley is the furlough capital of the UK outside London, official figures have revealed. The West Sussex constituency, which includes Gatwick Airport , has 20,000 people whose wages are subsidised by the state as a result of coronavirus, according to HM Revenue & Customs (HMRC). There were 74,207 registered voters in Crawley last year. Other constituencies with some of the highest numbers of people furloughed include Slough and Banbury, with 18,900 and 18,000 respectively. Manchester Centra
  
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• Stock market rally of hope pauses as virus worries mount

  11-06-2020 18:53 via uk.finance.yahoo.com
  
  The reality that the coronavirus crisis is far from over is threatening a blistering equity market rally that had taken some world indexes to fresh highs.Global stocks tumbled on Thursday and bonds rallied on fears a rise in new coronavirus cases could hurt a rush to open economies.Lockdown measures to curb the virus' spread had triggered a prolonged economic slowdown, a threat investors broadly looked past in recent weeks as they focused on improving data and support from the U.S. Federal Reser
  
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• The stock market rally may be over, but I’d buy shares in this FTSE 100 winner!

  11-06-2020 18:51 via uk.finance.yahoo.com
  
  To become a successful investor, simply buy and hold shares in the finest firms, such as this phenomenal FTSE 100 success story.The post The stock market rally may be over, but I'd buy shares in this FTSE 100 winner! appeared first on The Motley Fool UK.
  
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• Global markets tumble as US trading hit by fears of second wave

  11-06-2020 18:44 via uk.finance.yahoo.com
  
  The FTSE 100 closed 252.43 points lower at 6,076.7p at the end of trading on Thursday, representing its sharpest daily fall since March.
  
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• Coronavirus: Retailers and hospitality businesses furlough 3m across UK

  11-06-2020 18:44 via uk.finance.yahoo.com
  
  Thursday’s figures from the Treasury are the first time it has broken down furlough numbers by sector and geography.
  
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• Advising passengers not to travel with hand luggage is rubbish – Ryanair

  11-06-2020 18:43 via uk.finance.yahoo.com
  
  New Government guidance claims reducing the amount of hand luggage taken on board planes will minimise the risk of spreading Covid-19.
  
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• British beer sales fall to 20-year low due to lockdown pub closures

  11-06-2020 18:31 via uk.finance.yahoo.com
  
  British beer sales fall to 20-year low due to lockdown pub closuresTrade bodies urge government to confirm reopening date for pubs and bars in England
  
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• No-deal Brexit would be 'catastrophic' for British businesses after pandemic, warns CBI boss

  11-06-2020 18:30 via uk.finance.yahoo.com
  
  British businesses will not be able to cope with a no-deal Brexit while attempting to recover from the coronavirus crisis, the boss of the Confederation of British Industry has warned.Dame Carolyn Fairbairn said that walking away from trade talks without a deal at the end of this year would be “catastrophic” for businesses and would act as a major block to rebuilding the economy.
  
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• Oil prices slump as virus-related demand concerns resurface

  11-06-2020 18:26 via uk.finance.yahoo.com
  
  Oil prices tumbled more than $3 a barrel on Thursday, fuelled by renewed concerns about demand destruction as new cases of coronavirus tick up globally, while crude inventories hit a record in the United States.The U.S. Federal Reserve has expressed concern that this will continue, limiting demand."The market is pricing in the possibility that we'll have to slow down a little and that won't bode well for energy demand going forward," said Phil Flynn, senior analyst at Price Futures Group in Chic
  
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• 'Sold!' Auctioneers race to unload oil equipment as U.S. drilling dries up

  11-06-2020 18:26 via uk.finance.yahoo.com
  
  Fast-talking auctioneer Greg Highsmith sung out dozens of prices - "seventy-five-hundred now, $10,000 now, be able to get 15,000?" - before a North Dakotan buyer paid $27,500 for a used Caterpillar oil swabbing rig on Friday.The rig was one of more than 2,000 lots offered in an online auction of oil, gas and industrial equipment out of North Dakota's Bakken shale region on Friday.The auction market is more active than at any point since the downturn of the 1980s, said Dan Kruse, a San Antonio-ba
  
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• Stock markets tumble as another 1.5m Americans file for unemployment

  11-06-2020 18:24 via uk.finance.yahoo.com
  
  Stock markets tumble as another 1.5m Americans file for unemployment. Dow Jones loses more than 1,000 points while S&P; and Nasdaq down 3% after US coronavirus infections hit 2m
  
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• Market report: Fed warning turns global markets red

  11-06-2020 18:17 via uk.finance.yahoo.com
  
  The FTSE 100 suffered its worst session since late March on Thursday as fears over the state of the global economy took hold of markets. Overbought stocks in travel and leisure, automotive and the financial sectors – which have driven recent gains – took the heaviest hit as indices across the world turned blood red. The drop came after the US Federal Reserve struck a gloomy tone on the road ahead for America’s economy on Wednesday evening, and a swathe of companies announced jo
  
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